The Belgian state-owned bank Belfius has informed the Brussels-Capital Region that it intends to end its partnership; the decline in creditworthiness, the acute budget deficit, and the absence of a government were reportedly the deciding factors.
The Brussels-Capital Region must find a new primary bank, the Brussels new Budget Minister Dirk De Smedt (Open VLD) told L'Echo and De Tijd. There has been some friction between Belfius and the Brussels Region for some time.
In mid-October, it was announced that the bank would cancel its €500 million credit line (usually used to address temporary liquidity problems) starting in the New Year.
The Brussels Region does, however, still have a second €500 million credit line with ING Belgium. Whether that bank will follow Belfius' example is unclear. Negotiations on this matter are still ongoing.
Belfius is reportedly willing to offer some kind of basic service during the first six months of next year. The bank declined to comment on the news in the newspaper, Belga News Agency reports.
A year and a half after the elections, there is still no sign of a new Brussels Government or necessary budgetary interventions in the Region. Last week, De Smedt warned that the situation could lead to a shutdown next spring.
